MARC lowers GDP growth to 3.9% for 2021


MARC said private consumption, the main driver of economic growth, will be hard hit in the near term due to the strict lockdown measures which include the closure of non-essential services.

KUALA LUMPUR: Malaysian rating Corporation Bhd (MARC) has lowered its GDP growth forecast to 3.9% on-year, which is lower than its previous review of 5.1% due to the contraction in private consumption following the strict lockdown measures.

In its report on Wednesday, MARC said its earlier January 2021 GDP growth forecast for Malaysia was 6.4%.

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